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FINANCING
 9 Months Ended
Sep. 26, 2025
Debt Disclosure [Abstract]  
FINANCING
NOTE 4. FINANCING
The components of our debt were as follows ($ in millions):
September 26, 2025December 31, 2024
U.S. dollar-denominated commercial paper$755.0 $650.0 
3.7% Euro-denominated senior unsecured notes due 2026
290.2 517.7 
3.7% Euro-denominated senior unsecured notes due 2029
819.2 724.8 
3.15% senior unsecured notes due 2026
900.0 900.0 
4.30% senior unsecured notes due 2046
550.0 550.0 
Euro Term Loan due 2025— 284.7 
Yen Term Loan due 2025— 91.6 
Long-term debt, principal amounts
3,314.4 3,718.8 
Less: aggregate unamortized debt discounts, premiums, and issuance costs8.1 11.5 
Long-term debt, carrying value3,306.3 3,707.3 
Less: current portion of long-term debt, carrying value1,189.2 376.2 
Long-term debt, net of current maturities$2,117.1 $3,331.1 
Refer to Note 9 of our 2024 Annual Report on Form 10-K for further details of our debt financing.
Commercial Paper Programs
We generally satisfy any short-term liquidity needs that are not met through operating cash flows and available cash primarily through issuances of commercial paper under our U.S. dollar commercial paper programs. Under this program, we may issue unsecured promissory notes with maturities not exceeding 397 days. Proceeds from borrowings under the commercial paper programs are typically available for general corporate purposes, including acquisitions.
Interest expense on commercial paper is paid at maturity and is generally based on our credit ratings at the time of issuance and prevailing short-term interest rates.

The details of our outstanding Commercial Paper Programs as of September 26, 2025 were as follows ($ in millions):
Carrying value (a)
Annual effective rateWeighted average maturity (in days)
U.S. dollar-denominated commercial paper$754.0 4.43 %27
(a) Net of unamortized debt discount.
Credit support for the Commercial Paper Programs is provided by a five-year $2.0 billion senior unsecured revolving credit facility that expires on October 18, 2027 (the “Revolving Credit Facility”) which, to the extent not otherwise providing credit support for our commercial paper programs, can also be used for working capital and other general corporate purposes. As of September 26, 2025, no borrowings were outstanding under the Revolving Credit Facility.
We classified our borrowings outstanding under the Commercial Paper Programs as of September 26, 2025 as Long-term debt in the accompanying Consolidated Condensed Balance Sheets as we had the intent and ability, as supported by availability under the Revolving Credit Facility, to refinance these borrowings for at least one year from the balance sheet date.
During the third quarter, Fortive used approximately $302 million of the Ralliant Dividend to redeem €252 million of the outstanding principal of the 3.7% Euro-denominated senior unsecured notes due 2026, and the accrued interest thereon, with €248 million, or approximately $290 million remaining outstanding following such redemption. Fortive also used $324 million and $98 million of the Ralliant Dividend to repay the outstanding principle of the Euro Term Loan and Yen Term Loan, and accrued interest thereon.